Pre-tax income for the seven months ended September 30, 2021 was over $ 4.9 million
FARMINGTON, AR / ACCESSWIRE / November 16, 2021 / SPO Networks, Inc. (OTC: SPOI) (“SPOI” or the “Company”), a publicly traded company actively exploring acquisitions and potential opportunities in diverse industries, including an established recycling / waste-generating subsidiary. revenues as well as a new launched medical and recreational cannabis and genetic seeds operating entity with the expectation of rapid expansion of the cannabis industry using an exclusive vertical market ranging from grow facilities to dispensaries wholesale and retail, today announced that it has timely filed its quarterly report for the third quarter of 2021.
Tom Smith, Founder of Red Line and CEO of SPO Networks Inc., said: âOur record shows that we are growing at an accelerated pace, adding assets and hope to continue to grow substantially in the next quarter and beyond. . The company is coming out of a blockbuster in the third quarter. , where we have shown a:
Profit before tax of $ 2,230,621 million and for the seven-month period ended September 30, 2021 of $ 4,930,290 million;
Net income of $ 536,586 million, and seven months ended September 30, 2021 of $ 1,376,445 million; and
The cannabis acquisitions that we have under contract have generated revenues of $ 186,000 but can only be recognized once the licenses are transferred, which is expected to take place in the first quarter of 2022.
We have added assets and increased our revenues and look forward to continued substantial growth in the next quarter and beyond. “
SPO Networks, Inc.
SPO Networks, Inc. is actively exploring acquisitions and potential opportunities in diverse industries including solid waste, scrap metal recycling and demolition with special waste remediation. In addition, SPO maintains the belief that patients and clients have the right to high quality, cost effective and clinically validated cannabis products. To this end, SPO is targeting medical and recreational cannabis and genetic seed operations with the expectation of a rapid expansion of the cannabis industry. SPO is expanding its grow facilities for extraction operations, wholesale cannabis and cannabis extracts in Colorado to authorized retailers and wholesalers. Ultimately, the goal is to expand into retail product manufacturing and dispensary operations in multiple states, allowing SPO to offer a pricing strategy that will be appealing to consumers large and small.
For more information, visit: https://www.spoinow.com.
This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause results, levels of actual activity, performance or achievements differ from future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. You should not place undue reliance on forward-looking statements as they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and probably will, materially affect
results, activity levels, performances or achievements. Any forward-looking statement reflects our current views regarding future events and is subject to these and other risks, uncertainties and assumptions regarding our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons why actual results could differ materially from those anticipated in such forward-looking statements, even if from new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our documents filed with OTC Markets Group Inc. Our public documents with OTC Markets Group Inc are available from Trade Document Retrieval Services and on the website maintained by OTC Markets at https: // www.otcmarkets.com/stock/SPOI/disclosure
THE SOURCE: SPO Networks, Inc
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https://www.accesswire.com/673004/SPO-Networks-Inc-SPOI-Timely-Files-Quarterly-Report-On-OTCMarkets-Shows-Pretax-Income-From-Operations-Of-22-Million-During- Third Quarter-2021